Raja's share investments shot up by 170%

Raja's share investments shot up by 170%

Former Telecom Minister A Raja's investment in shares and fixed deposits have increased by nearly 170 per cent from Rs 8.52 lakh to a little over Rs 23 lakh during one year, annual property returns of the Ministers provided by Prime Minister's Office in an RTI reply show.

In the year 2008-09, the minister has invested Rs 8.52 lakh in shares while his wife had an investment of Rs 3.04 lakh in the shares but in the year ending March 31, 2010, Raja's investments in shares increased to a little over Rs 23 lakh.

Raja's share investments shot up by 170%

His spouse's investment has also increased by Rs 6 lakh, the property returns filed by the Minister show.

The details came through the reply to an RTI application filed by S C Agrawal seeking to know the latest asset details of the Ministers of the Union Cabinet.

Raja, who resigned following the controversy surrounding alleged corruption in the allotment of telecom spectrum, invested in 19 companies including public sector undertakings, airlines, software companies among others.

Raja's share investments shot up by 170%

Railway Minister Mamata Banerjee who had declared assets worth Rs 6.7 lakh last year has shown an increase of nearly 40 per cent with declared properties and cash touching little over Rs 10 lakh this year.

Raja's share investments shot up by 170%

One of the richest members of Union Council of Ministers, Jyotiraditya Scindia, Minister of state for Commerce and Industry has also shown a marginal increase in his assets from Rs 22.7 crore (Rs 227 million) in 2009 to Rs 24 crore (Rs 240 million) this year, the reply showed.

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Image: Minister of state for Commerce and Industry, Jyotiraditya Scindia.